Railroad News

[Editor's note: This story was updated at 10:20 a.m. CDT.]

The Federal Transit Administration (FTA) yesterday issued two final regulations aimed at boosting public transit safety.

The Federal Railroad Administration (FRA) today issued a notice of funding opportunity for its Consolidated Rail Infrastructure and Safety Improvements (CRISI) program, which includes more than $318 million in grant funding from the Consolidated Appropriations Act of 2018.

The funding will go toward capital projects aimed at improving passenger- and freight-rail transportation safety, efficiency and reliability, FRA officials said in a press release.

Canadian Pacific reported yesterday that its second-quarter revenue rose 7 percent to CA$1.7 billion from CA $1.64 billion compared with the same period a year ago. 

The Class I's second-quarter diluted earnings per share declined 7 percent to $3.04 from $3.27 per share a year ago. CP reported the per-share numbers in U.S. dollars.

Canadian Pacific reported yesterday that its second-quarter revenue rose 7 percent to CA$1.7 billion from CA $1.64 billion compared with the same period a year ago. 

The Class I's second-quarter diluted earnings per share declined 7 percent to $3.04 from $3.27 per share a year ago. CP reported the per-share numbers in U.S. dollars.

Union Pacific Railroad today reported second-quarter net income jumped 29 percent to $1.51 billion, or $1.98 per share, from $1.2 billion, or $1.45 per share, in the same quarter a year ago.

Operating income for the quarter rose 5 percent to $2.1 billion and operating revenue climbed 8 percent to $5.7 billion compared with second-quarter 2017, according to a UP press release.

Union Pacific Railroad today reported second-quarter net income jumped 29 percent to $1.51 billion, or $1.98 per share, from $1.2 billion, or $1.45 per share, in the same quarter a year ago.

Operating income for the quarter rose 5 percent to $2.1 billion and operating revenue climbed 8 percent to $5.7 billion compared with second-quarter 2017, according to a UP press release.

The Los Angeles County Metropolitan Transportation Authority (Metro) has cut prices for its bike share system, which provides rentable bikes to access transit stations or get around LA.

The cost of a single bike ride has been reduced to $1.75 from $3.50, while the price of a monthly pass has been reduced to $17 from $20. The agency also rolled out a $5 all-day pass for unlimited trips of 30 minutes or less.

Caltrain tonight will host a community meeting to discuss the impact of continued electrification work in Burlingame, California.

Construction of overhead contact system foundations and poles is set to continue along Caltrain right-of-way in Burlingame through August, Caltrain officials said in a press release.

The U.S. House Transportation and Infrastructure Committee's subcommittee on emergency management is holding a hearing today to gauge how well the United States is prepared for the 2018 hurricane season after last year's devastating storms.

In 2017, 10 hurricanes hit the Atlantic region alone, as hurricanes Harvey, Irma and Maria ravaged parts of Texas, Florida, Puerto Rico and the U.S. Virgin Islands, said U.S. Rep. Lou Barletta (R-Pa.), who chairs the Subcommittee on Economic Development, Public Buildings and Emergency Management, in a press release.

The Virginia Railway Express (VRE) yesterday hosted the Transportation Security Administration (TSA) for a canine training at the Broad Run train yard in Prince William County, Virginia.

During the event, explosive-detecting canines swept train equipment and a nearby station to help familiarize the dogs and their handlers with railroad environments, VRE officials said in a press release.

CSX posted a boost in profit, revenue and a record quarterly operating ratio for second-quarter 2018 — indications that the Class I's scheduled railroading operations model has begun to pay off, company officials say.

CSX reported yesterday second-quarter net earnings of $877 million, or $1.01 per share, compared with $510 million, or 55 cents per share for the same period a year ago.

CSX posted a boost in profit, revenue and a record quarterly operating ratio for second-quarter 2018 — indications that the Class I's scheduled railroading operations model has begun to pay off, company officials say.

CSX reported yesterday second-quarter net earnings of $877 million, or $1.01 per share, compared with $510 million, or 55 cents per share for the same period a year ago.

STV is providing engineering and design services for the second section of the Los Angeles County Metropolitan Transportation Authority's (Metro) Purple Line subway extension. Two boring machines will soon begin work on the project, STV officials said in a press release. Working as part of the design-build team led by Tutor Perini and O&G Industries, STV is serving as the engineer of record and principal design firm for the 2.6-mile segment. The firm's services include designing the Beverly Hills and Century City stations, along with the running tunnels. The entire $6.3 billion Purple Line extension will run 9.1 miles from LA's Koreatown to Westwood.

Cad Railway Industries has hired Michael Obertop as senior vice president of sales, marketing and business development. He most recently served as senior VP of sales and marketing for GBW Railcar Services LLC. Before that, Obertop spent nine years with American Railcar Industries in a variety of roles, including corporate counsel, assistant treasurer and corporate secretary. In total, he has more than 12 years of experience in the rail-car industry, Cad Railway officials said in a press release.

The Metropolitan Transit Authority of Harris County, Texas (METRO) recently approved the appointment of Teresa Morales to its board. She was nominated for the board appointment by Houston Mayor Sylvester Turner.

Morales replaces Christof Spieler, whose term expired earlier this year. He played an instrumental role in the development of the agency's redesigned local bus network and other transit improvements, METRO officials said in a press release.

Caltrain late last week began testing a new fare enforcement policy that calls for issuing administrative citations to fare evaders instead of criminal citations that require court visits.

The policy also slashes fines and speeds up the overall process, Caltrain officials said in a press release. Previously, fines were set at $250 plus court administrative fees, but the new ordinance reduces the fines to a $75 administrative penalty for a first offense.

Yesterday, the Federal Transit Administration (FTA) published a notice in the Federal Register about its fiscal-year 2018 apportionments, which include policies, procedures, streamlining activities, authorized funding levels, program details and funding availability.

The notice details $13.4 billion in formula and competitive funding for the FTA's 2,000 public transportation grant recipients through Sept. 30, 2018.